NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : COMBINATION OF NEW ISSUE OF SECURITIES MALAYSIA STEEL WORKS (KL) BHD (“MASTEEL” OR THE “COMPANY”) (I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED BONUS ISSUE (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

May 26th, 2017

Type

Announcement

Subject

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES

On behalf of the Board of Directors of Masteel, RHB Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:-

Proposed private placement of up to 24,450,800 new ordinary shares in Masteel (“Masteel Share(s)”), representing up to 10% of the Company’s total number of issued shares (“Proposed Private Placement”); and

Proposed bonus issue of up to 53,791,760 new Masteel Shares (“Bonus Shares”) on the basis of 1 Bonus Share for every 5 existing Masteel Shares held on an entitlement date to be determined and announced later (“Proposed Bonus Issue”).